Stock futures are little changed on Wednesday night as rally hesitates: Live updates

Stock futures were flat on Wednesday evening, as investors await the next market catalyst.

Futures linked to the S&P 500 ticked higher by 0.02%, while Nasdaq 100 futures inched down by 0.01%. Futures tied to the Dow Jones Industrial Average added 3 points or 0.01%.

In after-hours action, GameStop shares dropped more than 19%. The video game retailer fired its CEO Matthew Furlong and appointed Ryan Cohen as its executive chairman. GameStop also posted an adjusted loss of 14 cents per share on revenue of $1.24 billion.

During the regular session Wednesday, the S&P 500 and the Nasdaq Composite appeared to take a breather from their recent rally. The broad-market index closed 0.38% lower, while the Nasdaq dropped 1.29%. The 30-stock Dow was the outlier, with a gain of 0.27% or 91.74 points.

Investors seem to be in a holding pattern while awaiting the Federal Reserve’s upcoming policy meeting on June 13 and 14. Economic signs suggest that inflation is inching down, even as it remains above the central bank’s 2% target. Wage growth, for instance, is slowing. They rose 5.3% on an annual basis in May, down 0.4 percentage point in April, according to data from Indeed. Markets are pricing about a 66% chance that the Fed keeps rates steady at the next meeting, according to the CME FedWatch Tool.

More economic data will arrive on Thursday morning, with weekly jobless claims and wholesale inventories due.

–CNBC’s Jeff Cox contributed to this report.